In brief: Danish pensions commit to CIP’s $1bn-target green debt debut

Lægernes Pension & Bank and P+ Pensionskassen for Akademikere have invested a combined $219m to CI Green Credit Fund I.

Copenhagen Infrastructure Partners has drawn commitments from two Danish pension funds for CI Green Credit Fund I, an Article 9 fund with a $1 billion target. Laegernes Pension & Bank and P+ Pensionskassen for Akademikere have each committed DKr750 million ($109 million; €101 million), according to a statement from the former.

CI Green Credit I, launched in 2022, has a mandate to invest in greenfield and brownfield renewable energy projects, biomass and energy storage and transition assets in EMEA and North America. CIP joins a number asset managers raising capital for climate debt strategies: Apollo Global management has a debt and hybrid clean transition strategy as part of its $50 billion transition investment target; Tikehau Capital launched a debt decarbonisation fund this year, and Blackstone closed its Green Credit III fund on $7.1 billion this month.